FXstreet.com (Córdoba) - The Euro rebounded near the lows of the day and rose to test levels on top of 1.4700. EUR/USD is still in the negative side for the day, but it moved away from 1.4625, daily low. The next resistance on the upside lies at 1.4730.
Currently the pair trades at 1.4701/05, 0.50% below today's opening price. The pair has fallen in the six out of the last eight days and continues to pull down from the highs of the year at 1.5060.
James Hyerczyk, analyst at ForexHound.com, comments: The EUR USD is trading sharply lower after trading inside of a tight range for the past four trading sessions. Traders expect the European Central Bank to leave its benchmark interest rate unchanged at 1%. In addition, the ECB is expected to say that stimulus plans will remain intact until the economy starts to show signs of a full recovery.